and according to the commerce department construction of single-family homes jumped. so are we finally recovering from this housing bust? >> yeah. the housing crash is over. housing is improving. the numbers are still low by historical standards. we're just off bottom, but we're moving in the right direction, and thank goodness. we're going to need the growth coming out of the housing, because other parts of the economy are quite soft. so it is very, very encouraging. >> jennifer: that is encouraging. now we're going to put on your splaining hat. economic terms like driving off of a fiscal cliff can be hard to understand. can you tell us in as plain of english as possible what it means. >> well under current law -- so that means if policy makers do nothing -- if they don't pass any legislation, then come january 1st, 2013, tax rates will go up on everybody. the bush tax cuts expire the payroll tax holiday goes away, and we get government spending cuts. government spend willing be cut for a range of reasons. you add it all up it is over $700 billion in 2013, that's abo